My Real Estate Blog

February 2nd, 2009 4:24 AM
The market slowed this week - probably due to weather and all the school holidays and closures. We have 53 listings in Oak HIll/Herndon. There were 7 new homes that came on the market with 2 that were reissued so a net of 5 actual new listings. We had 3 contracts this week which was lower than last week. One of the homes that got a contract was a short sale that I have listed. It received 3 contracts but it will take 60 days for the bank to decide that they will take the price - so it is never sold until the bank agrees. If the storm does not come in that they are predicting, maybe the market will regain the momentum that it had in the last 2 weeks. Interest rates are at historically low rates.

Posted by Angela Mitchell on February 2nd, 2009 4:24 AMPost a Comment (0)

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